In the United States, annual prescription drug spend accounts for ~10% of all health spending. Decreases in affordability in prescription drug costs make it more difficult for Americans to secure the drugs they need to be healthy, resulting in poorer overall health, which ends up costing society more in the long run – a vicious cycle The pressure of increased drug costs is also felt by government programs like Medicare and Medicaid. Capital Rx is the fast-growing pharmacy benefits manager that utilizes technology to introduce transparency to and make sense of this opaque market. The startup has built the first-of-its-kind Enterprise Pharmacy Platform to unify all facets of the pharmacy benefits management process into a single system, leading to never-before-found efficiency in pricing and improved patient outcomes. AlleyWatch caught up with CEO AJ Loiacono to learn more about the state of the pharmacy benefits management market, the company’s novel approach to making drugs more accessible, the company’s future plans, and recent round of funding from Transformation Capital and Edison Partners.
With so much going on in the cityÕs thriving ecosystem, it is easy to miss some of the happenings in the space. We keep you abreast of the things that you may have missed in NYC Tech News for the week ending 2/6 including the NYC startup fundings, NYC startup exits, and NYC Tech events featuring news for Garner Health, Stash, panOpen, and much, much more.
The Weekly Notable Startup Funding Report takes us on a trip across various ecosystems in the US, highlighting some of the notable funding activity in the various markets that we track. The notable startup funding rounds for the week ending 2/6/21 featuring funding details for Opyn, Tovala, Good Eggs, and twenty-one other rounds that you must know about.
The latest venture capital, seed, pre-seed, and angel deals for NYC startups for 2/2/2021 featuring funding details for Capital Rx, Alma, and much more.
Everything you need to need to know about the largest NYC startup funding rounds of January 2021; broken down by industry, stage, investors, and more…